Comment

Debt Ceiling Madness Goes to the Wire

84
jamesfirecat7/26/2011 2:07:09 pm PDT

re: #73 Killgore Trout

Possibly. I think the unilaterally raising the debt ceiling by himself is pretty sketchy.

The 14th amendment says

“The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.”

Or to cut out the unimportant parts…

“The validity of the public debt of the United States, authorized by law, (including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion,) shall not be questioned.”


If we “Default” then the issue of “can we pay our public debt” becomes and issue, and thus one could argue that the law creating a debt ceiling was unconstitutional.

Now if Obma did raise it by taking this particular route he would probably be impeached.

On the other hand, actually replacing him with Joe Biden would require 28 Senate Democrats to join with all of the Senate Republicans.

Honestly if it was August 2nd and no deal in sight, I’d do it.

The American Economy is more important than any one president.